H.R.5266 - FHA Protection and Homeownership Preservation Act of 1990101st Congress (1989-1990)
|Sponsor:||Rep. Vento, Bruce F. [D-MN-4] (Introduced 07/13/1990)|
|Committees:||House - Banking, Finance, and Urban Affairs|
|Latest Action:||House - 08/01/1990 Referred to the Subcommittee on Housing and Community Development. (All Actions)|
This bill has the status Introduced
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Summary: H.R.5266 — 101st Congress (1989-1990)All Information (Except Text)
Introduced in House (07/13/1990)
FHA Protection and Homeownership Preservation Act of 1990 - Amends the National Housing Act to limit the maximum amount of a Federal Housing Administration (FHA) insured mortgage principal to a property's appraised value.
Sets forth periodic premium payment schedules.
Limits FHA rebates on unearned premiums.
Directs the Secretary of Housing and Urban Development to: (1) insure that the Mutual Mortgage Insurance Fund attains specified capital ratios; (2) conduct annual Fund audits; and (3) adjust premiums as necessary.
Authorizes periodic mortgage insurance safety premiums.